Time to read: 6 minutes
The Power of Deal Reviews: Accelerating MEDDPICC and Unlocking Value
Join us on a deal review journey, as we sit down with MEDDICC CRO, Pim Roelofsen, to discuss everything you need to know about the power of deal reviews. This four-part series will cover exactly what a deal review is and how it unlocks MEDDPICC value, how to tie it in with the 100-hour rule, the roles in which leadership teams have to play and how we can all encourage a shift in the deal review mindset.
Within the broader scope of go-to-market (GTM) strategies in the SaaS industry, deal reviews have proven to be a highly effective measure. These sessions not only strengthen the alignment and collaboration among the entire GTM team - which includes sales, marketing, customer success, and product - but also reinforce the application of methodologies such as MEDDPICC. By integrating deal reviews into your regular operational rhythm, you create a supportive environment that encourages sustainable growth and accelerates your team's progress towards reaching a state of intuitive execution. They contribute to overall team cohesion and play a pivotal role in embedding the MEDDPICC methodology into the fabric of your team's operations. By embracing deal reviews as a regular cadence, you set the stage for exponential growth and pave the way for your team to reach the coveted second nature stage.
Deal reviews serve as more than just a post-mortem examination of past deals. They act as a potent catalyst for growth and an essential instrument in infusing the MEDDPICC methodology within your sales team and broader organization. In this series of articles, we delve into the importance of deal reviews and their role in forging team unity, ensuring consistent practices, and fostering a culture of sales excellence. See how this recurring cadence can expedite your team's mastery of the MEDDPICC methodology and boost your organization toward its revenue objectives.
Think of MEDDPICC as a straight line of a journey your team undertakes. Each deal review is an opportunity to revisit this line, to double down on what works, and reinforce the elements that need improvement. Over time, this iterative process transforms the straight line into a flywheel, gaining momentum with each review. The more you reinforce and embed MEDDPICC via deal reviews, the faster the flywheel spins, creating a self-sustaining cycle of continuous improvement and growth. As Pim states "Deal reviews are the most powerful cadence to commit to, bridging the gap between 'knowing and doing'"
The Catalyst for Growth: Deal Reviews as a Transformational Cadence
Deal reviews go beyond their retrospective connotation. They are a powerful catalyst for growth, enabling teams to look forward, strategize, engage with key stakeholders, and make informed decisions. Creating a regular forum for deal discussions fosters collaboration, learning, and continuous improvement within your team. Deal reviews become the glue that holds your sales process together, elevating your organization to new heights of sales excellence.
The 100-Hour Rule: Supercharging MEDDPICC Adoption
Indeed, mastering MEDDPICC requires a consistent and dedicated effort, and the 100-hour rule provides a solid framework for that journey. By setting aside one hour per week for deal reviews, your team will accumulate valuable experience and insights over time. With around 44 working weeks in a year, this commitment adds up to over 40% of the 100-hour rule, positioning your team firmly on the path to mastery.
Yet the real power of this practice extends beyond sheer hours. These deal reviews cultivate a common language, a unified approach that permeates not only your internal team discussions, but also customer meetings, one-on-one sessions, forecast calls, win reviews, and more. The flywheel begins to spin, picking up momentum as MEDDPICC becomes ingrained in every facet of your sales process.
Much like forming a new habit, this process has a compounding effect. Each deal review doesn't just add another hour to your tally, but it reinforces the lessons learned, sparks new insights, and strengthens the resolve to continue improving. As the flywheel gathers speed, your team doesn't just inch towards the top 5% of the industry - it becomes a relentless force propelling your organization towards its ambitious revenue goals.
The Path to Second Nature: Combining Deal Reviews with Common Language Sessions
Integrating deal reviews with other collaborative sessions, such as one-on-one meetings and Quarterly Business Reviews (QBRs), presents an invaluable opportunity to engrain the MEDDPICC methodology into your organization's DNA. By continually reinforcing MEDDPICC principles in these sessions, you're fostering a shared language that extends across your entire go-to-market team. This strategy not only streamlines communication but also strengthens the adoption and consistent application of MEDDPICC.
When MEDDPICC is organically integrated into every facet of your team's operations, its principles become second nature to your sales force. This translates to a team that instinctively embodies the methodology, propelling your organization towards cohesive, efficient, and high-performing sales processes. As these principles embed deeper, the flywheel gains momentum, illustrating the compounding effect of continual reinforcement. This systematic approach ensures your team doesn't just use MEDDPICC - they live and breathe it, creating a unifying force that drives your organization to outperform in the industry.
Trust and Full GTM Alignment: Essential Ingredients for Success
Absolutely, trust is the bedrock of effective deal reviews and optimal Go-To-Market (GTM) alignment. The success of these initiatives depends on creating an environment where team members feel safe to be transparent about their challenges and vulnerabilities. This kind of openness allows the team to constructively discuss potential issues and develop actionable strategies to address them, ultimately driving opportunities forward.
Let's consider a practical example: imagine a sales representative is facing a tough challenge with a potential high-value account. The economic buyer is being elusive, and the sales rep is unsure about the right approach to take. In a deal review session based on trust, this representative can openly share their struggle without fear of criticism or judgment. Other team members, drawing from their diverse experiences and perspectives, can then offer their insights and potential solutions to this issue.
The representative not only gains valuable advice to move the deal forward but also learns from the collective wisdom of the team, contributing to their personal development. At the same time, their openness also encourages other team members to share their challenges in future sessions, fostering a cycle of continuous learning and improvement.
This environment of trust and openness doesn't happen overnight; it requires a consistent and conscious effort from all team members, especially leadership. A trust-building program such as L&E's can be instrumental in nurturing this environment, equipping team members with the knowledge and skills to communicate effectively, navigate conflicts, and build strong relationships.
When trust permeates the team, deal reviews evolve from simple meetings into powerful platforms for collaborative problem-solving, learning, and growth. As a result, the effectiveness of these sessions multiplies, bolstering the team's proficiency in the MEDDPICC methodology and accelerating your organization's journey toward sales excellence.
Stay tuned for the next article in this series, where we will delve deeper into the strategies and best practices for conducting effective deal reviews that drive sales growth and empower your team to reach its fullest potential.
What is the 100-Hour Rule?
The 100-Hour Rule proposes that consistent, dedicated practice over 100 hours is key to achieving mastery in any skill. This rule is significant for acquiring and mastering a complex sales methodology like MEDDPICC.
How can deal reviews contribute to the 100-Hour Rule?
By dedicating an hour weekly to deal reviews, your team can clock in approximately 44 hours over a year (considering around 44 working weeks).
How do deal reviews and the 100-Hour Rule intersect?
Deal reviews and the 100-Hour Rule align seamlessly. Deal reviews serve as a feedback mechanism, helping to identify and rectify gaps in the application of the MEDDPICC methodology.